Headlands has the following assets at December 31, 2017.Cash in bank-savings account138,800Certificates of deposit (270-day)244,000Cash on hand1,200Postdated checks6,500Cash refund due from State Taxing Authority31,500Checking account balance10,800What amount should be reported as cash?Cash to be reported2$

Cash refund due from State Taxing Authority, Postdated checks and Certificates of deposit are…

Answered: Headlands has the following assets at…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Bank reconciliation problem: The bank statement for Juan Company shows a balance per bank of P15,907.45 on April 30,2015. On this date the balance of cash per books is P11,589.45. Additional information are provided below: Deposits in transit: April 30 deposit (received by the bank on May 1) P2,201.40 Outstanding checks: No. 460-P1,502.70 No. 453-P3,000.00 No. 457-P1,401.30 Errors: Juan wrote check no. 443 for P1,226.00 and the bank correctly paid that amount. However, he recorded the check as P1,262.00. Bank memoranda: Debit- NSF check from Pedro P425.60. Debit- Charge for printing company checks P30.00 Credit – Collection of note receivable for P1,000 plus interest eamed of P50, less bank collection fee of P15.00. Required: Prepare a bank reconciliation statement using the adjusted method. Hint: Bank Debit Memo are deductions made by the bank to the account of the depositor Bank Credit Memo are additions made by the bank to the account of the depositor
Full calculation and correct answers need plzzz
Using the following information, determine the adjusted bank balance. Bank balance: $6,925 Deposits in transit: $1,932 Outstanding checks: $584 Interest income: $130 NSF check: $275
At August 31, Saladino Coffee has the following bank information: cash balance per bank Rp5.200.000, outstanding checks Rp1.462.000, deposits in transit Rp1.211.000, and a bank debit memo Rp110.000. Determine the adjusted cash balance per bank at July 31. Cash balance per bank Rp 5.200.000,00 Add : Deposits in Transit Rp 1.211.000,00 Rp 6.411.000,00 Less Outstanding Checks Rp 1.462.000,00 Adjusted cash balance per bank Rp 4.949.000,00 The information below relates to the Cash account in the ledger of Saladino Coffee Balance Rp 10.094.000 Rp 884.000 Collection of electronic funds transfer Interest earned on checking accounts NSF check: R. Doll Rp 26.000 Rp 245.000 Safety deposit box rent Rp 35.000 Cash balance per books Rp10.094.000 Add: *** ... Less NSF Check Rp245.000 Adjusted cash balance per books
Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980
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On July 31, 2025, Cullumber Company had a cash balance per books of $6,250.00. The statement from Dakota State Bank on that date showed a balance of $7,800.80. A comparison of the bank statement with the Cash account revealed the following facts. 1. 2. 3. 4. 5. 6. (a) The bank service charge for July was $20.00. The bank collected $1,630.00 from a customer for Cullumber Company through electronic funds transfer. The July 31 receipts of $1,308.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31. Company check No. 2480 issued to L. Taylor, a creditor, for $394.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $349.00. Checks outstanding on July 31 totaled $1,979.10. On July 31, the bank statement showed an NSF charge of $685.00 for a check received by the company from W. Krueger, a customer, on account. Prepare the bank reconciliation as of July 31. (List…
Current Attempt in Progress At August 31, 2025, Sage Hill Nail Bar has this bank information: cash balance per bank $10,790; outstanding checks $840; deposits in transit $1,800; and a bank service charge $30. Determine the adjusted cash balance per bank at August 31, 2025. Adjusted cash balance per bank Touthook and Modla $
please make it book balance of cash and bank balance of cash clearly
Required information [The following information applies to the questions displayed below.] As of June 30, Year 1, the bank statement showed an ending balance of $19,500. The unadjusted Cash account balance was $15,200. The following information is available: 1. Deposit in transit: $2,400. 2. Credit memo in bank statement for interest earned in June: $30. 3. Outstanding check: $6,690. 4. Debit memo for service charge: $20. b. Record in general journal format the adjusting entries necessary to correct the unadjusted book balance. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Balance, December 31, 2018 $3,340 ADD: Deposit in transit 100 3,440 LESS: Outstanding checks $400 400 Adjusted bank balance, December 31, 2018 $3,040 Book: Balance, December 31, 2018 $2,540 ADD: Bank collection $510 Interest revenue 20 530 3,070 LESS: Service charge $30 30 Adjusted book balance, December 31, 2018 $3,040
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